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In February 2020, 15,300 people were employed, 2,700 were unemployed, and 7,000 people were not in the labor force. During March 2020, 160 people lost their jobs and didn't look for new ones, 140 people quit their jobs and retired, 800 unemployed people were hired, 100 people stopped looking for jobs and quit the labor force, and 700 people entered the labor force to look for work. a. Calculate for February 2020 i. The unemployment rate ii. The employment-to-population ratio b. Calculate for the end of March 2020 i. The number of people unemployed ii. The number of people employed iii. The unemployment rate

In February 2020, 15,300 people were employed, 2,700 were unemployed, and 7,000 people were not in the labor force. During March 2020, 160 people lost their jobs and didn't look for new ones, 140 people quit their jobs and retired, 800 unemployed people were hired, 100 people stopped looking for jobs and quit the labor force, and 700 people entered the labor force to look for work. a. Calculate for February 2020 i. The unemployment rate ii. The employment-to-population ratio b. Calculate for the end of March 2020 i. The number of people unemployed ii. The number of people employed iii. The unemployment rate

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: Savings,investment And The Financial System
Section: Chapter Questions
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In February 2020, 15,300 people were employed, 2,700 were unemployed, and 7,000 people were not in the labor force. During March 2020, 160 people lost their jobs and didn't look for new ones, 140 people quit their jobs and retired, 800 unemployed people were hired, 100 people stopped looking for jobs and quit the labor force, and 700 people entered the labor force to look for work. a. Calculate for February 202o i. The unemployment rate ii. The employment-to-population ratio b. Calculate for the end of March 2020 i. The number of people unemployed ii. The number of people employed iii. The unemployment rate Statements: a) "The national-level saving rate is important from a macroeconomic perspective, in the sense that higher savings tend to strengthen the economy over the long run." b) "Slow-trend growth is reducing the opportunities for profitable long-term investments. The recent downturn in business investment was less of a cyclical blip than a sign of things to come." c) "Government increased its expenditure on national defense which is expected to increase budget deficit."
Transcribed Image Text:In February 2020, 15,300 people were employed, 2,700 were unemployed, and 7,000 people were not in the labor force. During March 2020, 160 people lost their jobs and didn't look for new ones, 140 people quit their jobs and retired, 800 unemployed people were hired, 100 people stopped looking for jobs and quit the labor force, and 700 people entered the labor force to look for work. a. Calculate for February 202o i. The unemployment rate ii. The employment-to-population ratio b. Calculate for the end of March 2020 i. The number of people unemployed ii. The number of people employed iii. The unemployment rate Statements: a) "The national-level saving rate is important from a macroeconomic perspective, in the sense that higher savings tend to strengthen the economy over the long run." b) "Slow-trend growth is reducing the opportunities for profitable long-term investments. The recent downturn in business investment was less of a cyclical blip than a sign of things to come." c) "Government increased its expenditure on national defense which is expected to increase budget deficit."
We have the following data from the loanable funds market for Berberistan. Answer the following questions. Real interest rate Loanable funds Loanable funds demanded supplied (percent per year) 3 (trillions of dollars) 10 4 4 9 5 5 8 6. 6 7 7 7 8 6 5 9 4 10 a) What is the equilibrium real interest rate, total private saving and investment? (suppose that the govemment budget is balanced.) b) What will be the equilibrium real interest rate if the govemment's budget becomes a deficit of $2 trillion? What will be the private investment at the new equilibrium? Define “crowding-out" and tell if there is crowding-out in this case.
Transcribed Image Text:We have the following data from the loanable funds market for Berberistan. Answer the following questions. Real interest rate Loanable funds Loanable funds demanded supplied (percent per year) 3 (trillions of dollars) 10 4 4 9 5 5 8 6. 6 7 7 7 8 6 5 9 4 10 a) What is the equilibrium real interest rate, total private saving and investment? (suppose that the govemment budget is balanced.) b) What will be the equilibrium real interest rate if the govemment's budget becomes a deficit of $2 trillion? What will be the private investment at the new equilibrium? Define “crowding-out" and tell if there is crowding-out in this case.
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